A recent report has revealed that Asian cities are the world’s strongest economically, yet US and European cities are the most competitive overall.
Date: Mar 16, 2012
A recent report has revealed that Asian cities are the world’s strongest economically, yet US and European cities are the most competitive overall.
Commissioned by Citi, the new Economist Intelligence Unit (EIU) research report ranks the competitiveness of 120 of the world’s major cities for their demonstrated ability to attract capital, business, talent and tourists.
Singapore ranked first in Asia, and third globally.
Entitled “Hot Spots”, the report found that 15 of the top 20 economically-strongest cities are in Asia, in which 12 are in China. The top 32 Asian cities are all forecast to grow by at least 5% annually between now and 2016, with 12 of them expected to grow by at least 10%.
With a combined population of about 750 million, the 120 cities ranked in the study represent approximately 29% of the global economy and generated a combined GDP of US$20.24 trillion in 2011.
